The April Market Report Has Been Released

Numbers Took a Dip from April 2018; Otherwise Strong

Published Wednesday, May 8, 2019
 

MEMPHIS, Tenn., May 3, 2019 – Memphis-area home sales for April decreased 0.9 percent from a year ago, with 1,708 total sales recorded in the Memphis Area Association of  REALTORS® MAARdata property records database. Sales were up 11.6 percent from March, when there were 1,530 total sales. Average sales price from April-to-April was down 0.7 percent, at $177,889. Inventory increased 6.6 percent, with 4,056 units listed for sale. Year-to-Date sales volume was up 1.5 percent at $990.4 million.

April Comparison

 

2019

2018

Percentage Change

Total Home Sales

1,708 1,723 - 0.9%

Median Sales Price

$145,000 $145,000 0.0%

Average Sales Price

$177,889 $179,163 - 0.7%

Monthly Sales Volume

$303.8 million $308.7 million - 1.6%

 

Year-to-Date Comparison

 

2019

2018

Percentage Change

Total Home Sales

5,742 5,704 0.7%

Median Sales Price

$135,000 $135,000 0.0%

Average Sales Price

$172,490 $171,074 0.8%

Monthly Sales Volume

$990.4 million $975.8 million 1.5%

"Inventory is on the move," said MAAR President Lee McWaters. "The market remains very competitive for buyers and sellers."

Historical home sale statistics are also available for comparison.